EVANSVILLE, Ind. - CNB Bancshares Inc. said it agreed to acquire First Corp., a holding company in Henderson, Ky., for 16.23 a share, or about $16 million.

CNB agreed to exchange 0.601 share of its common stock for each of First Corp.'s 982,270 outstanding shares. First Corp., the parent of First National Bank of Henderson and Peoples Security Finance Co., had $92 million in assets on march 31 and earned $234,000 in the first quarter.

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